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cliff, raising taxes in a slow economy. all of it is coming home to roost. >> mike, we had the president come out saying that he will veto any legislation that allows the tax cuts to be extended for the highest earners. is that what poured water on the rally? >> it didn't hurt. obviously, there was no breakthrough. i think the one thing to take away from today's action was the fever kind of broke a little bit in terms of the market really being hyper actively responding to every little knnuance. i think the market would have liked to see a little more affirmative suggestions that were going to come closer together. i don't think it was something that alarmed everybody, considering the height of panic that built up over a couple days. >> all right, guys. thanks so much. appreciate that. it has been a week to forget for the bulls. tough week after the election. courtney reagan wraps up the big losers and mixes in a few silver linings on the upside. court, over to you. i don't hear her. okay. courtney reagan, obviously her microphone, we're going to fix that in a moment and get back to her.
a tax cut for folks who don't need it. >> the issue there is we are not going to hurt our economy and make job creation more difficult, which is exactly what that plan would do. there are ways to put revenue on the table without increasing tax rates. >> what's your reaction? >> i'm actually more hopeful than al is. >> you used to be more depressed. what's gotn n tten to you? >> i spent the last few days here. i am more hopeful. we got a democrat president who's in his second term, who's been willing to put entitlement programs on the line. we got a speaker, a republican, who really gets it, who understands that we have to have some decisi additional revenue. we have over half a senate who have embraced a balanced plan like we've proposed. and we've got this fiscal cliff, which will force action. i think they are pretty pitch saying the same thing. both of them are saying we have to have revenue. the president says, look, i want that revenue to be real. the only way i don't know fknow real for sure it to raise the tax rate. the speaker is saying there's a better way to do it. that
there is in the economy. i'm a little confused as to why you would think that would happen. >> what i'm saying is you could pick any target you want. picking targets is a far cry from actually making a difference on things like unemployment. targets are easy. >> but here's the thing. >> but the target is 2015. rates aren't movmoving. what are you suggesting? the fed was clear about this. >> if the rates go up, we're in a big, big problem because we cannot service the debt. they have to keep them down. >> very good point. >> i don't think that's what's behind fed policy. >> i do. >> when you think about higher interest rates, you have to consider why interest rates would be higher. they could be higher if there was more economic growth. more economic growth would mean higher tax revenue. in that regard, you wouldn't necessarily have to have these low interest rates. you could service a higher interest rate and a higher debt service if there was more economic growth. >> how do we get economic growth? >> when the private sector decides it's going to invest and spend and hire, maria. those are the source
-term health of our economy? we debate straight ahead. >>> and coming unraveled. he's the man some say is a bigger crook and liar than bernie madoff. >> how many people who are condemning what i did would know for sure they would never do anything like what i did if they knew they wouldn't get caught? >> we get the scoop about mark drier from a former employee who produced the award-winning documentary about one of wall street's biggest scam artists. that's all ahead on the "closing bell." i just want to give her everything. [ whistles ] three words dad, e-trade financial consultants. they'll hook you up with a solid plan. wa-- wa-- wait a minute; bobby? bobby! what are you doing man? i'm speed dating! [ male announcer ] get investing advice for your family at e-trade. >>> welcome back. let's check groupon shares. the stock down sharply today after reporting disappointing earnings moments ago. john fortt breaking down the numbers. 10.7 pv 10.7% lower. >> yeah, the stock traded up into the close. revenue fell short. $568.6 million versus $590 expected. eps flat, basically zero. 3 cents
in times when the economy is in turmoil and specific industry is in turmoil as well. we like that. >> mark travis makes a good point if we don't see anything done in the fiscal cliff, say they do nothing, dividend taxes go t 43.8%, capital gains taxes go much higher. is that a reason to get out of this market? what do you think that does to the market? >> i think the other thing -- we have a long-term hold period. our average holding is seven years. i think part of it will force the long-term investor to become long term and not in a trading mentality. if you do have that significant tax hit to concern yourself with, you know, your decisions on the long term types of investments you make will probably change a little bit. and i think that, frankly, is good for the long-term investor. it will have an impact. >> david doll, what's your impact in terms of 2013, where should i be exposed to equities? >> i think 2013 is the exact right question. what we might see here in lame duck, just may be a kicking the can down the road scenario once again. we believe we face massive tax reform coming. the
economy. perhaps the fieriest moment in all of this is in the discussion over libya. the president talking about u.n. ambassador susan rice, who's been criticized by senators mccain and graham up on capitol hill. the president said if mccain and graham want to go after somebody, they ought to go after me. take a listen to that as well. >> for them to go after the u.n. ambassador who had nothing to do with benghazi and was simply making a presentation based on intelligence that she had received and to besmirch her reputation is outrageous. >> the president also said that he's open to compromise here. he doesn't want to slam the door on republicans. he said he's going to be looking for ideas from everyone. >> all right, eamon. thanks for much. i want to show you what's going on with brian sullivan. he's walking with some of the ceos that have just come out of the white house. let's listen in. >> we employ a lot of the people in this country and around the world. there's nothing that i can say more importantly than a solution to this problem is paramount. that will require we give on all side
Search Results 0 to 5 of about 6